Revenue Disaggregation

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Disaggregation

13. REVENUE DISAGGREGATION

The Company’s disaggregated revenue for the three months period ended March 31, 2022 and 2021 were as follows (dollars in millions).

Net Sales by Products	Three Months Ended March 31,
	2022		2021
Airbag Products and Other1)	$	1,381	$	1,463
Seatbelt Products1)		744		779
Total net sales	$	2,124	$	2,242
1) Including Corporate and other sales.
Net Sales by Region	Three Months Ended March 31,
	2022		2021
China	$	447	$	414
Japan		178		211
Rest of Asia		232		252
Americas		692		687
Europe		575		679
Total net sales	$	2,124	$	2,242

Contract Balances

Contract assets relate to the Company's rights to consideration for work completed but not billed (generally in conjunction with contracts for which revenue is recognized over time) at the reporting date on production parts and is included in Other current assets in the Condensed Consolidated Balance Sheet. The contract assets are reclassified into the receivables balance when the rights to receive payments become unconditional. The net change in the contract assets balance, reflecting the adjustments needed to align revenue recognition for work completed but not billed, for the three months period ended March 31, 2022 and 2021 were not material in any period.